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Journalism and other myths.
This is a quick post outside of my regular schedule because the nation I love is in terrible peril and it’s clear that far too many people do not appreciate the real problem:
The president is not sane.
Everything else is irrelevant. The executive orders, North Korea, even the Russian hacking of our election are completely secondary to the immediate problem in front of us. The most powerful person in the world is not sane and we have to do something about it immediately.
“My fellow Americans, our long national nightmare is over. Our Constitution works; our great Republic is a government of laws and not of men. … Let us restore the golden rule to our political process, and let brotherly love purge our hearts of suspicion and of hate.”
– Gerald R. Ford, “Remarks Upon Taking the Oath of Office as President”
Something happened to our nation in 1974. It was more than Watergate and the disgrace of President Nixon. Years later, Jimmy Carter famously called it “malaise” – a feeling of unease that is hard to pin down. As we discussed in People’s Economics it shows up as a turning point in the economy, too.
Primarily it’s been a crisis of spirit and identity. Who are we? What are we doing?
The natural end to this crisis may be at hand. Like an addict on a 43 year bender, rock bottom might come from the Watergate script pitched as a pointless remake. At first I wanted to call it Nixon on steroids, but this is Nixon on meth. How bad can it get?
France has saved the world! At least, that’s what far too many headlines and social media posts have proclaimed. The overwhelming landslide by Emmanuel Macron is definitely a victory over nationalism. But is it a vote for clear, rational centrist policies?
Judging by what is being celebrated, this is simply a negative victory at this stage in that a bogeyman has been slain. “It could be worse” is hardly a platform for running a government, let alone defining the future. But there is hope that Macron may yet provide the leadership that the world is desperately hungry for – an intelligent and decisive way forward. Time will indeed tell as Macron, and France, gets down to work.
The US House just passed what it calls AHCA – the Obamacare repeal legislation they have been waiting 8 years to pass.
There are many ways to criticize this bill, ranging from the AMA’s criticism that it dismantles what safety net we have to a full-on dismissal by key Senate Republicans.
But there is a deeper criticism that has to be made – the real problem with this bill is that the House isn’t actually even trying to govern. They’ve completely given up.
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As this year develops, the economy is stronger than it has been in a long time. Yet the process of spreading out the wealth and creating strong growth has yet to come together. While there is little doubt that our image of the economy is changing, some important things have not. The most important aspect of our economy, that it works for everyone with some degree of equity, is not changing much. That will keep our politics in turmoil for some time to come.
The reason for this is simple: the US Dollar is incredibly strong and is likely to remain so for years. This means that manufacturing, the life blood of the heartland, will not return soon. The anger over this, blaming China and Mexico and everything except the automation and accumulation of wealth which really drives it, will certainly continue.
Barataria - The work of Erik Hare 